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FINANCIAL NEWS
Jet Airways’ shareholders Okay 24%-stake sale to Etihad
25 May 2013
(MENAFN) Jet Airways announced that its shareholders okayed the 24-percent stake sale to Etihad Airways, reported Arabian Business.
Last month, the Abu Dhabi-based carrier announced that it will buy the stake in the Indian airline for USD370 million.
According to Jet Airways’ secretary, Arun Kanak, the airline postponed seeking shareholder endorsement for a new set of Articles of Association until it receives regulatory clarity.
It is worth noting that Etihad is the first foreign carrier to make an investment in an Indian airline.
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